The UK-based bank partners with integrated banking solutions provider Avaloq to deploy wealth management solutions across their global entities.
In its first phase of rollouts, the Avaloq Banking Suite will be implemented across HSBC’s Private Banking businesses in Switzerland, Luxembourg, Monaco, Guernsey and Bermuda. The bank has further plans to deploy this platform accross their other global entities.
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In commenting about the factors behind the bank’s decision to implement this solution suite, John Armstrong, chief operating officer, Global Private Banking at HSBC comments: "The functional richness and the international deployment capabilities are two of the main reasons why we decided to go with the Avaloq Banking Suite for our private banking business. Through the implementation of the Avaloq Banking Suite we will significantly improve our operational efficiency, levels and consistency of customer service, while also improving our cost structure."
With the Avaloq banking suite, HSBC hopes to simplify and centralise operations where necessary, for greater efficiency and shorter time to market of new products. In effect, the bank aims to provide a more seamless and coherent product and service offering to their clients.
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